888 Exceed Online Casino Revenue Expectations

Elouise Spencer - 30 June 2020

Online casino operator 888 Holdings has declared itself expectant of exceeded EBITDA (earnings before interest, tax, depreciation and amortisation) goals achieved for the year 2020. This even in the  face of a global financially-crippling public health catastrophe.

888 has not yet released its latest quarterly performance results, but an interim performance indicator report released on March 24 clearly indicated that online casino operator to have traded superbly well during the period leading up to the mentioned date. What’s more, said 888 Holdings at the time of the most recent market expectations report, the stellar performance posted during the first three months of the current year has continued up to and including June 23.

Customer-Driven Performance

Year-on-year comparisons are showing an annual increase of 34% on the daily revenue performance front when compared to performances posted throughout the same periods during 2018/2019. This, declared 888, is a clear reflection of the higher levels of customer acquisition applied by the online casino operator during the latter half of last year.

Another benefit, revealed 888, was that of the operator having kicked into motion a shift toward online services. The change in focus has now resulted in the acceleration of several consumer-facing services and products. Poker, in particular, witnessed a major climb up the performance ladder, said the operator. And sports betting, despite the crippling effects of cancellations, has reportedly witnessed a late-June return a great deal more lucrative than initially anticipated. So much so that for the month of June so far, sports betting revenue hit a run-rate well ahead of that posted during June last year.

Not Ignorant Of Challenges

The operator did however refer to itself as being fully aware of the possibility of strong headwinds being on the cards for the latter half of 2020. Even the potential of another global economic recession is being taken into consideration.

But despite these and whatever other challenges may come, 888 Holdings has said that the general consensus among the members of its board is that of a confidence in the online casino brand surpassing its EBIDTA expectations for 2020.

888’s strong performance builds on the operator’s overall superb customer acquisition performance as reported for the year 2019. 888 chief executive Itai Pazner says that this is yet again proof of the value of prioritising recreational customers and their incoming business.

The latest market indicator released by 888 Holdings pegs online casino revenue at being up by at least 5.7% year-on-year when compared to 2019’s 12-month performance